The surge of the Delta variant around the globe is set to partially delay oil demand recovery into the next year when robust economic growth and stronger recovery in fuel consumption will see global oil demand averaging 100.8 million barrels per day (bpd) and exceeding pre-COVID levels, OPEC said on Monday, raising its 2022 demand forecast by a shocking 900,000 bpd.
the oil market was strong in the early part of the week, but came under selling pressure on Thursday as news of China releasing oil from its strategic reserve (SPR) hit the wires.
Natural gas prices have hit their highest levels since 2014, outpacing oil and many other commodities.
Oil climbed above $70 a barrel in New York yesterday after three weeks of gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter.
Tullow Ghana, a subsidiary of London- based oil and gas firm Tullow Oil Plc, has announced the appointment of Mrs. Cynthia Lumor as Deputy Managing Director, effective 1st October 2021.